Windows – Selectively disabling UAC for specific programs on Windows 7

There is no way in windows itself to "whitelist" certain applications. You could use the program "tweak uac" to switch really easy and quick between uac settings.

http://www.tweak-uac.com/what-is-tweak-uac/

You could also right click the icon/program you want to run and "run as administrator" it should only ask you once in uac that way.

Other option is to completely turn off uac, but it's not reccomended by microsoft nor by me.

This is by design. The checkbox negates the need to right-click and select "Run as administrator" every time.

Windows requires authentication for any task that requires administrator privilages. By what you suggest, nothing would prevent malware searching your computer for "Run as administrator" icons, running them, then using the application to access the depths of your file system. If the program ever displays so much as a file dialog, immediately the malware could modify files in restricted areas of the system.